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On the 2nd of December, Re:Coded and Five One Labs hosted the Women in Tech and Entrepreneurship Summit sponsored by UNHCR and Zain Iraq. The event was part of their commemoration of 16 Days of Activism, which is an international campaign starting from 25 November, the International Day for the Elimination of Violence against Women, to 10 December, Human Rights Day to galvanize action to end violence against women and girls around the world.

In the Fall of 2015, it was not the best time for businesses in Iraq. There were significant geopolitical pressures facing the Iraqi government, oil prices were in the mid $40’s (and dropping), and ISIS had taken over large parts of northern and western Iraq. At this time, I just completed an executive education program at Singularity University focused on the future of technology. When I thought about Iraq’s technological future, I felt a mix of hope and fear.

The Iraq and Kurdistan startup scene is still at an early stage however we expect significant growth in 2017. Here are the 7 key reasons why the country will see massive startup growth in coming years.

It might be surprising to know that the region of the Middle East has become a blossoming entrepreneurial, tech startup hub. From Jordan to Lebanon and Iran to Egypt, the region has made significant progress with innovation driving tech startup growth. Israel has more startups per capita than anywhere else in the world.

Statistic reports indicate that there are millions of startups launched every year, inclusive of business, tech, art, and other professions. Evidently, very few of these startups make it to the limelight or even succeed within their areas of operation while the majority do not. What separates the two categories? Planning. Without a proper execution plan, startups are prone to burn out no sooner than they begin.